December 2007
Corum partners with FHH, refocuses collections
Corum partners with FHH, refocuses collections
December 11, 2007
Geneva—Corum has signed a partnership agreement with the Fondation de la Haute Horlogerie (FHH) “to create long-term value,” according to the luxury watch brand.
Corum’s aspiration is to reposition the brand in the luxury segment and restore its historical legitimacy.
To that end, the company is refocusing its Admiral’s Cup, Golden Bridge and Romulus collections with a balance between creativity and quality that achieves global coherence of the product’s brand image, as well as creating a new strategy for its movements.
“We intend to propose movements specially developed for each of the four pillars upon which our product offering is now based,” Corum’s General Manager Antonio Calce said in a media release. “Each pillar will have a supplier whose profile corresponds to the exact spirit of the particular collection.”
To coincide with this new strategy, Corum is also rebuilding its distribution network by reducing the points of sale globally, appointing regional managers and strengthening its relationships with distributors.
Corum recently exhibited its Admiral’s Cup Challenge 44 chronograph from the new Admiral’s Cup collection, which has already been designed with this consistent approach in mind, from Dec. 7-9 in Paris. The occasion was the first edition of “Belles Montres” at the Salon International de l’Horlogerie de Prestige in the Carrousel du Louvre, and the first time the FHH introduced its mission and activities in Paris through an exhibition titled “The Chronograph, an Expression of Our Modern Times.”
Consumer confidence
Consumer confidence
December 23, 2007
2007: Year of the diamond
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| Nancy Orem Lyman is the director of U.S. Consumer Confidence for the Diamond Promotion Service. E-mail her at nancy.oremlyman@jwt.com. |
By Nancy Orem Lyman
This past year has seen unprecedented scrutiny of the diamond industry. Governments, the media, non-governmental organizations (NGOs) and the industry itself pointed out both needed changes and existing safeguards.
On many levels, these efforts—by organizations such as the World Diamond Council (WDC), the World Jewellery Confederation (CIBJO) and the Council for Responsible Jewellery Practices (CRJP), and initiatives such as the Kimberley Process (KP) and the Madison Dialogue—have strengthened and brought greater transparency to the diamond industry.
The WDC served as the industry’s ambassador to field questions on conflict diamonds from the media, NGOs and governments. The KP, the regulatory arm for governments and our industry that oversees the legitimate diamond trade, was lauded as a model of corporate social responsibility at the recent G-8 Conference.
In the past two years, CRJP has emerged with a strong—and growing—membership that is committed to promoting responsible business practices from mine to retail. Even as I write this article, the need for continued improvements to the KP is being discussed at the annual KP Plenary session in Brussels, Belgium, and global jewelry industry advocate CIBJO just held a seminar in Hong Kong on the importance of reputation.
Leading the charge on addressing the challenging social, human rights and environmental issues inherent in the small-scale mining sector (including artisanal diamond mining) is the Madison Dialogue, a cross-sector initiative that promotes communication and collaboration among companies and civil society working to make a difference in these workers’ lives.
The strength of the diamond industry can also be seen directly in producer countries. On a recent trip to South Africa and Botswana, I witnessed the enormous impact diamond mining has on local communities, including “beneficiation” efforts and all that this South African buzzword implies. The cutting and polishing factories now employing hundreds of Africans will soon employ thousands. Thriving communities have been built around the diamond mines, offering access to schools, hospitals and more.
West Africa is improving too. Liberia has recently been accepted into the KP and should soon see the effects of the legitimate diamond trade in local communities. Sierra Leone is now an emerging democracy that has just achieved its first free and open election since the bitter war years. With the new government in place, it is hoped that true beneficiation will soon follow. Both in West and Southern Africa, it is abundantly clear how important—and effective—the KP is in ensuring the legal diamond trade stays that way. This regulation enables governments to collect tax on their own resources, with those revenues returned to local communities, perpetuating the beneficiation process.
The KP and the System of Warranties are of central importance to our industry. Yet the biggest challenge we face may not be another movie, or documentary or miniseries (though each is in production). The biggest threat to our industry is actually our own complacency.
Some jewelers recognize that complacency is a huge mistake. They are continuing to observe strict compliance with industry safeguards and are communicating their high ethical standards to consumers. Yet many others have not yet embraced this understanding.
Recent research has shown that some jewelers believe the “crisis of confidence” is over and nothing more needs to be done. Indeed, this year at JCK Las Vegas, some retailers claimed that the System of Warranty Assurance Statement no longer needs to be on invoices since it is “just voluntary.”
This complacency could breed consumer mistrust and affect your business. It could then hurt producing countries, which rely on legitimate trade in diamonds. Weak business practices by any jeweler will contaminate everyone. Diamond jewelry competes in an environment of increasingly alluring luxury products. Today’s consumer is sophisticated, informed and demanding, particularly on issues that impact our reputation. According to the 2006 Cone Millennial Study, younger diamond purchasers are even more ethically minded than their elders, seeking out companies with trusted business practices.
Research also shows that the public is far more aware of conflict diamonds than ever before. At the same time, almost 40 percent of independent jewelers acknowledged that they are still not fully informed about the KP and the System of Warranties. A whopping 43 percent of consumers report that they mistrust our industry. The integrity of the diamond industry is only as strong as each individual jeweler’s commitment to responsible business practices.
So what can you do to meet the challenge of complacency? In addition to visiting the WDC’s Web site, found at Diamondfacts.org, here are five important steps:
1. Know and trust your supply chain and insist that all invoices include a system of warranty guarantee.
2. Keep your diamond-sourcing policies current and available for any customers who ask.
3. Understand the issues that matter to your customers.
4. Be clear and explicit about what you are selling.
5. Train your staff.
Together and united in a commitment to responsible business practices, our industry will continue to thrive in the decades to come. And for the upcoming holiday weeks, we can feel proud to be selling a product so beautiful, so unique and so rare that it is the only way to truly represent the deepest of human emotions: diamonds.
Majority of U.S. companies retain sightholder status
Majority of U.S. companies retain sightholder status
December 17, 2007
By Michelle Graff
London—Six out of nine U.S.-based companies have retained their Diamond Trading Co. (DTC) London or DTC South Africa sightholder status, while one company’s status has been revoked, National Jeweler has learned.
Julius Klein Diamonds LLC, Lazare Kaplan International Inc., Louis Glick Diamond Corp., Michael Werdiger Inc., Premier Gem Group and Stuller Inc. all confirmed with National Jeweler that they have retained their sights for the 2008-2011 contract period.
The sightholder contract for Hasenfeld-Stein Inc., however, was not renewed, Director of Sales and Marketing Steve Feldman said.
“It’s not a shock,” he said. “We’ve been preparing for this for some time.”
Feldman said only 25 percent of Hasenfeld-Stein’s supply comes from the DTC so the loss of the sight will not have a dramatic effect on business.
Almod Diamonds Ltd. and Dynamic Diamond Corp. have not yet responded to a request for comment. The fate of these companies’ sights remains unclear at this time.
The DTC’s new sightholder list, released on Monday, brings the total number of international sightholders to 79, down from 93. This includes DTC London, DTC South Africa, DTC Botswana and the Namibia Diamond Trading Co. (NDTC).
The most recent list includes six new companies.
In a release issued on Monday, the DTC stated that it is “investigating ways in which it can retain its valued relationships with current sightholders that have not secured a supply.”
Feldman said the DTC already has requested a meeting with Hasenfeld-Stein to discuss how their relationship can move forward.
The DTC stated it would provide more information on initiatives to continue relationships with dropped sightholders before March 31, 2008.
DTC Managing Director Varda Shine said they were impressed by the standards of all companies applying to be sightholders but pointed out that international competition for diamonds is at an all-time high.
“Competition for rough diamonds is now fiercer than ever, and we are confident that the diverse range of companies to which the DTC is able to offer supply are those best placed to add real value to the rough diamonds we sell,” she said.
While the DTC won’t release the names of sightholders until next year, Eurostar Diamonds International issued a press release stating that it has retained its sight. The company also has a sight in Botswana.
The previously announced sightholders from both DTC Botswana and the NDTC are:
DTC Botswana
1. Ascot Diamonds
2. Dalumi Botswana
3. DDA of Botswana
4. Diamond Manufacturing Botswana
5. Eurostar Botswana
6. H and A Cutting Works Botswana
7. Lazare Kaplan Botswana
8. Leo Schachter Botswana
9. Moti Ganz Botswana
10. Pluczenik Diamond Co.
11. Rand Precision Cut Diamonds
12. Safdico Botswana
13. Suashish Diamonds Botswana
14. Teemane Manufacturing Co.
15. Yerushalmi Brothers Diamonds Botswana
16. Zebra Diamonds (IGC Group)
NDTC
1. Almod Diamonds Ltd.
2. AMC/GemXel Diamonds (Pty) Ltd.
3. Finesse Diamond Corp.
4. Hardstone Processing (Pty) Ltd.
5. JKD Namibia (Pty) Ltd.
6. Laurelton-Reign Diamonds (Pty) Ltd.
7. LLD Diamonds Namibia (Pty) Ltd.
8. Namcot
9. Namgem
10. NU Diamond Manufacturing (Pty) Ltd.
11. Trau Bros Diamonds Namibia (Pty) Ltd.
Editor’s note: For earlier developments in this story, see DTC postpones sightholder decision and DTC Botswana names 16 sightholders. For questions or comments, contact National Jeweler Diamond Editor Michelle Graff at Michelle.Graff@nielsen.com.
India, China meet, talk ‘global supremacy’ in jewelry
India, China meet, talk ‘global supremacy’ in jewelry
December 14, 2007
Shanghai, China—India and China moved closer toward bilateral trade in the gem and jewelry sectors recently with the first-ever selling meet between Indian and Chinese buyers and sellers.
The Mumbai, India-based Gem and Jewellery Export Promotion Council (GJEPC) teamed up with the Shanghai Diamond Exchange (SDE) for the Dec. 3-5 event at the Grand Hyatt Hotel in Jin Mao Tower in Shanghai. All told, 21 major Indian diamond companies participated in the show to display merchandise, including high-end premium solitaires in sizes ranging from 0.5 to 5 carats, to more than 100 buyers from all over China. The companies also met with major Chinese importers.
Inaugurating the meet was Chen Kun, chairman of the Shanghai Diamond Exchange, who said the two countries should work together by complementing each other’s strengths.
“China is efficient in jewelry manufacturing and India is a leader in diamond manufacturing; hence both countries should come together and achieve global supremacy in this sector,” Kun said in a press release issued on Friday by GJEPC. Kun was joined by Li Mu, director general of the Diamond Administration of China (DAC), as well as senior officials from the SDE and DAC.
Citing the KPMG-GJEPC report “Vision 2015,” the release said together India and China will retain their position as high-volume cutting and polishing diamond centers, polishing about 87.6 percent of the world’s rough diamonds in terms of volume. China, now one of the fastest-growing jewelry markets in the world, imports $800 million in rough diamonds and $1.1 billion worth of polished diamonds, the report said.
Of the world polished-diamond market, India’s share is 60 percent in terms of value, 85 percent in terms of volume and 92 percent in terms of pieces, GJEPC says.
“This meet [will] open new doors for business opportunities between the two industries, and I look forward to this exhibition changing the perception of Chinese buyers about Indian diamantaires manufacturing only small and low-priced diamonds,” Kun said. “I appreciate the manufacturing and business capabilities of the Indian industry in cutting all shapes and sizes of diamonds.”
GJEPC said the meet was only the first step in an ongoing process.
“This is first-ever buyer/seller meet of its kind between the two countries, and we are certain that it will lay an effective foundation for facilitating bilateral trade in the gem and jewelry sector between the two countries,” Vasant Mehta, vice chairman of GJEPC, said in the release.
Shake-up at the top for Zale
Shake-up at the top for Zale
December 20, 2007
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| Zale Corp. President and CEO Betsy Burton has stepped down from her position, replaced by retail veteran Neal Goldberg. |
Irving, Texas—Zale Corp. President and Chief Executive Officer Betsy Burton has stepped down from her position, replaced by a retail veteran from outside the company.
The Irving, Texas-based chain jeweler announced on Thursday that Neal Goldberg will replace Burton, who had been at the helm since February 2006.
Goldberg has 27 years of experience in the retail industry, including senior roles at Macy’s, Victoria’s Secret and Gap Inc. Most recently, Goldberg served as president of The Children’s Place retail stores, which sell children’s clothing and accessories.
Zale Board Chairman John B. Lowe Jr. said Goldberg’s unique combination of skills make him a perfect fit to take the reigns at Zale.
“In his various roles at specialty retailers and department stores, Neal has proven to be both a strong merchant and a skilled operator who has inspired his colleagues and earned the respect of his business partners. We are delighted that he has agreed to join Zale to continue the focus on driving shareholder value,” he said.
The chain jeweler has fallen on hard financial times in recent years. Same-store sales decreased 0.4 percent for the first quarter ended Oct. 31, and revenues decreased 1.2 percent to $378 million compared with $382 million for the same period last year, the company reported in November.
In addition, Zale Corp. sold off its high-end Bailey Banks and Biddle division earlier this year to Finlay Fine Jewelry Corp., a sale that netted the company $175 million.
Q and A with Terry Burman
Q and A with Terry Burman
December 01, 2007
Signet chief stays balanced in jewelry’s teetering universe
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| Terry Burman, CEO of Signet Group, the parent of Sterling Jewelers. |
By Whitney Sielaff
Akron, Ohio—Terry Burman is the chief executive officer of Signet Group, the parent of Sterling Jewelers, which operates more than 1,300 retail jewelry stores, including Kay Jewelers, in the United States.
With $2.65 billion in sales in 2006, its sales volume surpasses that of every other retail jewelry chain in North America. In an exclusive interview at Sterling’s Akron, Ohio, headquarters, Burman explains how the company has thrived in challenging times.
National Jeweler: Is the jewelry business healthy?
Terry Burman: On one hand, it’s very fragmented and seems to be populated by a lot of inefficient operators who aren’t realizing return on capital. But on the other, it’s got a compounded annual growth rate of 6 percent over the past five years. The basic industry should be happy based on that growth rate.
NJ: What are our biggest challenges?
TB: There’s a range of issues. On the social, ethical and environmental sides, there are many challenges the industry needs to address to maintain consumer confidence. Another big challenge is the Internet, not so much in terms of losing market share, but in terms of the transparency it brings to pricing and the acceleration of commodification of our products.
Also, diamond availability, access to consistent supply, is going to become a challenge. Demand is growing faster than supply. And having access to consistent quality is an important part of our selling system. There are other issues like synthetics, potentially, but it depends on how they develop.
NJ: The business is transforming and consolidating. What type of fine-jewelry retailer is going to own market share five years from now? What will the competitive landscape look like?
TB: There are advantages to being big and small. Because of our size, we have better marketing and advertising ability. We can invest more in systems, which give us a competitive advantage. But there’s every reason why an independent jeweler can both deliver a superior customer experience and tailor their operation for exactly the market in which they’re operating, selecting merchandise for exactly that store’s customers.
In the end, it will come down to who executes the basic disciplines best—the people who execute their businesses best and have the best merchandise, marketing and customer service. Those are going to be the types who survive. It’s about executing.
NJ: There seems to be a polarization developing. Luxury has been outperforming the rest of retail in the general market as well as in jewelry. Do you see this in the relative performances of your Kay and Jared operations?
TB: Kay sales are actually very strong as evidenced by their position as the No. 1 jewelry brand in the United States. However, we look at performance over the long-term. These things are cyclical. Sometimes the upper-end is stronger. But you don’t build a business based on cyclical factors. You build a business based on sustainable factors. We developed Jared to get some balance and diversification—on-mall and off-mall, middle market and then a step up from the middle market.
NJ: Compression and realignment of the supply chain is another notable trend. Will retailers increasingly buy offshore, directly from major developing manufacturing centers such as India and China?
TB: Markets act efficiently. They have a way of sorting these things out. The balance might become different than it’s been traditionally. It depends on the products you’re buying, the quantities you’re purchasing and design.
NJ: What is the growth trending for online jewelry sales? What’s its share of the market today, and what should we expect in a year, five years?
TB: We got into e-commerce late. We didn’t think it was a profitable enterprise until a couple of years ago, when we felt there was enough mass there to get a market share. There’s not much out there in terms of pure e-commerce jewelry sellers who have been able to deliver a customer experience that makes their business successful.
In terms of basic merchandise, it will continue to gain share in the short- to medium-term. But it’s a developing issue. It might gain a certain amount of share and then top out.
NJ: Considering the advantages of price, convenience and merchandise selection it can offer, what would hold it back?
TB: It’s very difficult to sell the more fashionable products on the Internet. Jewelry is the opposite of a generic product. Most consumers do want the in-store experience. The consumer values the total experience in the store—the selection, the experience, the interaction.
For us, the Internet is partially a customer-satisfaction issue. Our customers wanted it as an alternative. Shopping has become an integrated process. Now, as people are making a purchase, they can go online and think better about it, having the tools to enable their thinking. It’s part of your offering.
Some consumers, of course, are ready to treat the category as a commodity. But we’ve always had low-cost retailers in the supply chain. There are some consumers who are price buyers only. The biggest impact from the Internet is not going to be in taking market share, but will be pricing transparency and pressure on margins.
NJ: The industry has intensified its focus recently on its level of ethics, including developments such as the Kimberley Process and the Council for Responsible Jewellery Practices (CRJP). Why now? And, to be honest, is the industry for real, or is this more an issue of perception?
TB: It’s not an option for us. We must maintain consumer confidence. If our product loses its cachet, the industry could take decades to recover.
Issues that didn’t receive much national media attention in the past can get a lot of attention today because of the Internet. It’s very dangerous to ignore these issues. When it becomes a crisis, it’s too late.
Consumers may not let you know if they’re disappointed. They’re looking for some sensible practices that assure them we’re addressing the issues. Once they’re reassured, they’re usually satisfied.
The first line of defense are the retail jewelry stores. Knowledge and an ability to talk about the issues are reassuring. If you have untrained salespeople who are uneducated about the issues, you’re transmitting a message to consumers and could be losing customers for the entire category. That becomes a cumulative issue and could lead to our product falling from fashion. Those who view it as not being their job are being irresponsible, not just to the industry, but to themselves.
It’s also our responsibility to improve the supply chain. We can’t do it acting individually. We’ve explored that, and we’re convinced that one company can’t have a meaningful impact on the supply chain on its own.
Organizations are important because through them we can act as an industry to improve the supply chain. Organizations such as the CRJP and the World Diamond Council are important to support because they’re dedicated to improving the supply chain and consumer confidence. That’s the substantive part of being able to represent to consumers that you are doing something.
Finally, we would never represent anything we couldn’t back up. Once the infrastructure is in place for the Kimberley (Process), for instance, you’ve got to be able to guarantee that to your consumers.
NJ: Your U.S. sales passed Zale Corp.’s [in 2005], making Sterling the largest specialty fine-jewelry retailer in the United States. With so many of the traditional chains struggling, what’s driving your success?
TB: I think it’s the business processes we’ve developed, our culture of testing and driving toward continuous improvement in all phases of our business. We have a philosophy of testing before we invest, so we don’t make large mistakes. This gives us the opportunity to invest our human and financial resources in the things we know are going to succeed. Afterward, we continue to constantly test them.
NJ: What specifically is going to drive market share for you going forward?
TB: There’s no one thing that I can single out. You’ve got to have good customer service, good marketing, good value in the merchandise—the right merchandise at the right time and right place—well-trained staff, good logistics, good systems—the tried and true process—and a selection process for good real estate. We’ve got to do everything well, be a well-rounded business. We’ve got to perform in all disciplines.
NJ: You’re increasing sales for diamond jewelry, which increased to a 72 percent share of your total last year. In times when many see this product category as facing significant challenges, what’s driving this increase for you?
TB: We’re going to go where our consumer takes us. In categories where we’re having success, we’re going to expand inventory in style range and depth. And we’ve been having a lot of success with diamonds. Sure there are challenges in the diamond arena. But some of those macro issues will sort themselves out, perhaps through faster consolidation. We haven’t seen any let-up in diamonds.
NJ: You’ve developed and implemented an interesting metric you’ve named the “customer store-experience index.” Can you explain this and its value?
TB: Just as with employees, different departments may have different issues, different stores may have different issues. Since we believe in improving everything we do all the time, we developed a system to measure the customer experience. Once we can measure it, we can drive improvement.
EXCLUSIVE: Jewelry shoppers take their sweet time
EXCLUSIVE: Jewelry shoppers take their sweet time
December 27, 2007
By Michelle Graff and Mary Wisniewski
New York—Procrastinating shoppers, particularly men, made for a busy few days before Christmas for most of the jewelers who spoke to National Jeweler today, ending the holiday season on a relatively positive sales note.
At Barnes Jewelry in Amarillo, Texas, General Manager Jeff Fox said he was “very busy” the weekend before Christmas and on Christmas Eve.
During this time, he estimates that 90 percent of his customers were men.
“I think, traditionally, the men wait until the last minute,” Fox said.
Similarly, Evan James Deutsch of Evan James Ltd. in Brattleboro, Vt., reported that his store did an entire days’ worth of business on Sunday, despite being open only six hours.
He also said Christmas Eve was one of the store’s biggest days ever.
“Because jewelry is an impulse item, the guys wait until the last minute,” Deutsch said.
Richard T. Velayo of Gleim Jewelers in Palo Alto, Calif., said his store witnessed a relatively late rush, with sales hitting the hardest seven days before Christmas, and then onward through Christmas Eve.
John Anshus of Anshus Jewelers in Menomonie, Wisc., also closed most of his major holiday sales at the last minute.
“Most sales occurred just two weeks shy of Christmas,” he said.
This shopping pattern mirrors a national trend, a recent survey shows.
From Dec. 13-16, the International Council of Shopping Centers asked 1,005 households how much of their holiday gift buying they had completed.
Of those surveyed, 50 percent had completed half or most of their holiday shopping by the end of this time period, and only 20 percent said they had all of their Christmas shopping done.
The No. 1 reason for waiting: having the weekend before Christmas to shop, according to 67 percent of those surveyed.
Other reasons included the perception of having more time—there were 32 days between Christmas and Thanksgiving this year—and the popularity of gift cards.
Some 52 percent of respondents said they felt they could wait until the last minute because they were buying gift cards.
Overall, sales for the year were all over the board for retail jewelers across the country.
Deutsch said sales at Evan James were flat, as were sales at Castiglione Jewelers in Gloversville, N.Y., and at Brevelle’s Jewelry in Lafayette, La.
But sales were up for 2007 at Allen’s Jewelers in Albany, Ga., at Barnes Jewelry and at Anshus Jewelers.
Anshus said his store did quite well this holiday season, matching last year’s results, which was one of the store’s biggest years.
“We’re very happy,” he said.
Anshus said bracelets moved well, but pendants took over in sales with earrings to match.
Steven Goldfarb of Alvin Goldfarb Jewelers in Bellevue, Wash., also said he’s pleased with sales.
“We’re slightly up from last year,” he said.
Goldfarb said watches sold well as did earrings and bracelets, but that he was a little disappointed in overall jewelry sales. Bridal was steady he added, but not explosive.
Further, Goldfarb said he sold less big-ticket items this year and more moderately priced items.
At Farmer’s Jewelry in Lexington, Ky., owner Bill Farmer Jr. said ancient coins received strong attention from buyers.
His sales results this year were average, so Farmer Jr. said he’ll get no rest.
“We worked hard and now we get to work hard again,” he said.
Looking ahead to 2008, Farmer Jr. said he is optimistic for next year, and that he’s already done well with trade-ups thus far.
Louis Castiglione of Castiglione Jewelers, however, said he’s concerned about how increasing economic pressures will affect consumers in the coming year.
He said he saw more credit cards than ever used this holiday season.
“I’ve never noticed that so much before,” he said. “People do not have the spending power they used to have. It makes me wonder what the next year is going to be.”
Survey: E-commerce holiday spending tops $26 billion
Survey: E-commerce holiday spending tops $26 billion
December 27, 2007
Monday, Dec. 10, heaviest online spending day on record
Reston, Va.—More than $26 billion was spent online during the first 51 days of the 2007 holiday season (Nov. 1-Dec. 21), representing a 19 percent increase compared with the same period last year, according to ComScore Inc.
Monday, Dec. 10, or “Green Monday,” was the heaviest individual spending day of the season with $881 million in sales. “Cyber Monday” (Monday, Nov. 26), which represents the first major spike in online spending activity during the season, ranked as the ninth heaviest day with $733 million in sales.
ComScore forecasts that online retail spending will reach $29.5 billion for the 2007 holiday season, up 20 percent from $24.6 billion in sales last year.
ComScore Inc. measures the digital world based on a global cross-section of more than 2 million consumers who have given the company permission to confidentially capture their browsing and transaction behavior, including online and offline purchasing. ComScore panelists also participate in survey research that captures and integrates their attitudes and intentions.
Celebs go ‘eco-chic’ in lab-grown stones
Celebs go ‘eco-chic’ in lab-grown stones
December 27, 2007
Boca Raton, Fla.—Up-and-coming celebrities who made their mark on Hollywood this past year rocked cultured-diamond jewelry at the Hollywood Breakthrough Awards on Dec. 9.
Kim Kardashian of Keeping Up With the Kardashians fame wore a Renaissance Diamonds fancy-color cultured-diamond necklace with matching vivid-yellow cultured-diamond drop earrings, while Elizabeth Mitchell of the hit series Lost was presented with a Renaissance Diamonds cultured-diamond pendant in a sunburst design as well as yellow cultured-diamond stud earrings in recognition of her breakthrough achievements.
Neil Koppel, president and chief executive officer of Renaissance Diamonds, said his company is committed to making “eco-friendly” fine jewelry.
“Our cultured-diamond jewelry is an opportunity to make more than just a fashion statement,” Koppel said in a media release.
For more information about Renaissance Diamonds, visit the company’s Web site, Renaissancediamonds.com.
Black Is In, As Jewelry Designers Take Note
This holiday season there is an upswing of interest in black diamond jewelry pieces and black titanium anniversary rings
This matches the general increase in desire for things black in the fashion world. According to a November 2007 article on fashion trends in Japan, black is on the way back. According to this source, fashion savvy people are creating a unique effect not with colors, but with subtly different materials and textures using black.
As black is now the color of choice, jewelry designers are taking notice. They have been featuring black diamonds and black titanium more often in their designs. Some firms are selling black titanium jewelry, and another designer has new designs featuring black titanium with black diamonds.